And in the Financial Collapse Race, WaMu is Coming up on the Right

Well it appears that Washington Mutual is trying to find someone to buy them, and their large institutional investors have have agreed to waive a stock dilution clause, which, along with reports that US Regulators are helping them look for a buyer does not bode well for the company.

In any case, it appears that Citi has given the deal a pass.

Meanwhile, in an excercise of remarkably good journalism, Matthew Garrahan of the Financial Times went to the bank, and saw that people are queuing up to get their money out.

Dead bank walking.